The State Bank of Vietnam (SBV) issued Document No.1032/NHNN-TTGSNH on February 14 to permit the Chailease International Leasing Company Limited (CILC) to establish a branch in Hanoi.
CILC is responsible for implementing procedures for inaugurating, registering and publicizing newly established branch in line with Decision No. 01/2008/QĐ-NHNN dated January 9, 2008 on opening and terminating operations of branches and representative offices of non-bank credit institutions. Moreover, the CILC is required to complete procedures for terminating operations of its representative office in Hanoi in accordance with applicable laws. The Documents will cease to be effective if the CILC does not inaugurate the above – mentioned branch within 6 months from the date of signing.
LH